Prepare for less revenue
To the Editor:
As an overburdened taxpayer in McHenry County, I am anxiously awaiting the expiration of the “temporary” 67 percent income-tax increase as 2015 creeps closer.
I am wondering what our elected governor, senators and representatives are doing to cut costs in order to let the income-tax increase expire as promised?
For two brief reasons stated below, it’s obvious that Springfield’s legislative (in)actions and increases in spending are evidence that the state will not be financially ready for the decrease in revenue.
1. As top Democrats drag out pension reform – to manipulate the campaign for governor – it is we, the taxpayers, who are picking up the $14 million daily increase in pension debt.
2. What does the Legislature do with an unexpected extra $1 billion in tax revenues? It increases spending by $2 billion. This fiscal execution is absurd.
The 2014 elections are our opportunity as taxpayers to let politicians know the income-tax increase must expire.
I urge you to call, email or write your representatives and demand real answers on how budgeting and planning is being reformed in anticipation of decrease in revenue.